Hotel Chocolat annual sales beats expectations

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Hotel Chocolat

Hotel Chocolat’s new store format and products has boosted the specialist retailer’s full year sales, with the results beating expectations.

According to the retailer’s preliminary results, revenue for the 53 weeks to July 2 was £105 million.

On a comparable basis, revenue for the 52 weeks to June 25 was £104 million — an increase of 12 per cent compared to the prior year, which the retailer said was “slightly ahead” of market expectations.

Hotel Chocolat opened two new stores opened in the second half of the year, bringing the total to 12 new stores last year — eight of which feature a cafe.

READ MORE: Hotel Chocolat continues strong growth following float

The company said the new shop+cafe format was working well, adding five per cent to the retailer’s overall sales year-on-year.

It added that a refit of the existing Milton Keynes store, due to open before the end of July, would further test the shop+cafe format, especially from the view of adding a cafe to an existing location.

“The spring seasonal ranges delivered encouraging results and, following successful trials, our unique cocoa-infused ice cream known as Ice Cream of the Gods, is now on sale in 37 locations,” the retailer said in its trading update.

“A new website launched early in 2017 offering an improved shopping experience on tablets and smartphones.

“Trading since FY17 continues to be in line with management’s expectations.”

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